1. As we end 2022, many of our clients will consider charitable contributions as part of making tax-efficient end-of-year decisions to increase deductions. However, not every charity is the same. This week, I’ve included an article with tips for vetting charities before you donate to them. https://consumer.ftc.gov/articles/giving-charity
2. I love Donor Advised Funds as a vehicle for tax-efficient charitable giving. Here’s a closer look at some of the big advantages they offer:
If you are facing high taxes, estate planning issues, or planning to make charitable giving a part of your financial life, then donor-advised funds can be a useful option with tax advantages and flexibility. Making the most of these funds requires careful planning, especially since gifts are irrevocable. Timing of contributions can have major tax implications, and not all donor-advised funds offer the same costs or services. A financial advisor can help you make the most of these accounts and incorporate a giving strategy into your overall financial plan.
The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete. It is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of Jay Wheeler and not necessarily those of Raymond James. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Donors are urged to consult their attorneys, accountants, or tax advisors with respect to questions related to the deductibility of various types of contributions to a Donor-Advised Fund for federal and state tax purposes. To learn more about the potential risks and benefits of Donor Advised Funds, please contact us. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.